Each out-of-state trust
institution that maintains a trust office or representative trust office in
this State, or the home state regulator of the trust institution, shall give at
least 30 days' notice or, in the case of an emergency transaction or the
cessation of trust activity in this State by an out-of-state trust institution
or foreign trust institution whose only office in this State is a registered
office, as much notice as practicable, to the Commissioner of:

(1)
Any merger, consolidation, share exchange, or other transaction that would
cause a change in control of an out-of-state trust institution (i) that would
be subject to Subpart D of Part 3 of this Article if the out-of-state trust
institution were a State trust company or (ii) is required to be filed with any
bank supervisory agency;

(2)
Any transfer of all or substantially all of the accounts or account assets of
the out-of-state trust institution to another person; or

(3)
The closing, transfer, or discontinuance of any trust office or representative
trust office in this State. (2001-263, s. 1; 2005-269, s. 13.)